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In 1917, Rapp left the company and it was taken over by Austrian Franz Josef Popp who later named it BMW. BMW continued their endeavors in producing for the German panzer (airplane) and the motorized division of the German airforce.
It was not until after the World War that BMW was banned from manufacturing for three years. In 1952, they began manufacturing automobiles. In 1959 BMW found themselves in a tough financial situation, as they almost had to sell their interests to Daimler-Benz, the number one auto producer as well as their number one competitor. However, with the opposition of the workforce and labor unions as well as an individual named Herbert Quandt, shares were increased by 50% and the company did a turn-a-round...
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